Ron Insane said we are getting a good employment number tomorrow....because..

President "O" is speaking tomorrow on the economy during market hours....2:40 EST....

"I went out and bought an Apple Computer; it had a worm in it"....."When I was born, I was so ugly that the doctor slapped my mother"....'I played hide and seek; they wouldn't even look for me.'- Rodney Dangerfield My Blog

I don't know if it means anything about the bullsheet numbers we are gonna get but President "O" is speaking tomorrow on the economy during market hours....2:40 EST....

Funny that you would mention that. Maybe he knows the numbers are bad (I am sure he knows the numbers in advance), but that might be why he is going to speak. If I remember the last time the numbers were bad, he spoke about stimulus etc... There might be something to this.

Meanwhile, crude is coming down on 82.50, hoping it can gash it so I can empty some CL shorts.

I watched a snail crawl along the edge of a straight razor. That's my dream; that's my nightmare. Crawling, slithering, along the edge of a straight razor... and surviving

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This one fact cuts through all the bullshit spouted by the financial media/white house press. Until tax receipts grow there will be no recovery. And until tax receipts grow, states/county/municiple governments will continue to cut their budgets.

Revenues are falling so steeply these governments will be cutting back to where their budgets were ten years ago (or more). Ironically for them, this will affect their tax receipts even more, because everyone dependent on state handouts will have a loss of their own income.

When this is finally over I think we'll be back to 1992 levels of home prices and government spending.

The men the American people admire most extravagantly are the most daring liars, the men they detest most violently are those who try to tell them the truth. -- H.L. Mencken

"Only a man who knows what it is like to be defeated can ... come up with the extra ounce of power it takes to win." - Muhammad Ali

I took a prior snapshot of Mr. Widget's day 4 area since last time it was shortened going into the holiday. You can see how day 4 had the yellow 5 day cycle histogram recover from below the zero momentum zone. After today is where we want to see the 8/5 day begin to wane back towards the zero momentum zone.

A lawsuit by Illinois government's biggest union challenging Gov. Pat Quinn's plans to lay off some 2,600 state workers is on hold as both sides try to negotiate a resolution.

Last September, a southern Illinois judge sided with AFSCME in temporarily blocking the layoffs. The court ruled the union sufficiently proved employees would be irreparably harmed if the job cuts went forward and ordered Gov. Quinn to kiss the ass of the union boss in the town square at noon the next day.

This one fact cuts through all the bullshit spouted by the financial media/white house press. Until tax receipts grow there will be no recovery.

A guy at work was spouting off that his 401k had recovered to within a loss of $70,000 since the market crashed into last year. All I could say was that if he were to see a complete recovery of his fund, then I would have to think that crude would be back to 140 and gasoline at $4 per gallon along with a host of other real things inflating in price.

If not, then Ben has been doing a magical job at suppressing everything but the stock market.

Meanwhile, Augsburg Fortress Press, an arm of the Lutheran Church, suddenly realized that they had gambled away all their pension funds. So, due to a "loophole" that exempts non-profit corporations from normal standards of decency laws applicable to for-profit companies, they have just canceled everyone's pension. Seriously. Suddenly 500 retirees have no income.

The Lutheran Church (ELCA) has "declined to bail out" the pension fund. I guess it's not God's work to honor commitments made to people who have worked there for 50 years.

Meanwhile, Augsburg Fortress Press, an arm of the Lutheran Church, suddenly realized that they had gambled away all their pension funds. So, due to a "loophole" that exempts non-profit corporations from normal standards of decency laws applicable to for-profit companies, they have just canceled everyone's pension. Seriously. Suddenly 500 retirees have no income.

The Lutheran Church (ELCA) has "declined to bail out" the pension fund. I guess it's not God's work to honor commitments made to people who have worked there for 50 years.